India ranks third in the list of most-suitable locations for global manufacturing among 48 countries in terms of cost competitiveness and operating conditions, according to property consultant Cushman & Wakefield.
China and the US retain the top two positions, while India has moved one place higher to rank third, the consultant said in its Global Manufacturing Risk Index (MRI) report.
In its annual ranking of the most suitable locations for global manufacturing among 48 countries in Europe, Americas, and the Asia-Pacific, the consultant said India is in top-3 countries this year and an upcoming manufacturing hub globally from an operating conditions and cost-competitiveness perspective.
"In the backdrop of the Covid-19 scenario, the government has reiterated its agenda to launch fresh measures that would give a boost to setting up of a more conducive environment to make India a manufacturing hub.
"At a time like this, India ranking amongst top-3 on the most suitable locations for global manufacturing comes as a shot in the arm for the country," said Anshul Jain, managing director (India and Southeast Asia), C&W.
From a baseline scenario ranking that looks equally at operating conditions and cost-competitiveness but does not consider the impact from the current pandemic, China retains the top spot, followed by the US at second and India at third positions, the report said.
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